Personally, I got a scholarship (Like a 4K lump sum), but no federal or state financial aid. Having a mother who owns two properties in Santa Barbara = multimillionaire on paper = no financial aid, even though my family was single income and she was a public education teacher.

Technically, the only thing I see wrong in a "white only" scholarship is bad taste. They only did it to ruffle feathers and not actually, you know, help disadvantaged students (It's what the guy said himself! Even though they said later on that it can help disadvantaged students, the main focus was to draw affirmative action to light.)

Hell, I honestly feel that even I was probably shafted by affirmative action when I got rejected to Berkeley and UCLA (~1400 SAT, 3.7 GPA, 2 years of city college completed by the time I was 17, 4 years band, marching band, and jazz band, 3 years section leader, involved with volunteer projects, worked summers with a non profit organization, and swept my division in academic decathalon). I got shafted for financial aid, too. Did I cry and blame it on race? Nope. I went to the next school that accepted me, UCSC, got my BA, and now I'm making a very fair grip of cash.

Minority-preferential scholarships are just another attempt to level the playing field so that people who potentially come from a politically disadvantaged background can afford the high price of a BA.